A gilt coin that has lost its value has been put up for sale by an auction house in Australia, according to a report.
The Perth Mint and Goldsmiths in Perth, WA, are offering up the gilt gemstone called a “gilt diamond” for $US5,000 ($7,000).
The gemstone is valued at $US1.2 million, and is the fourth most valuable gemstone in the world, behind diamonds such as the Amethyst and Ruby, and the emerald.
In a statement on its website, the Perth Mint said it was not aware of the sale.
It said the gemstone was first discovered in a gilding process in the 17th century.
“This is the fifth time we’ve seen it up for auction, and we’re thrilled to be offering it to the highest bidder,” the statement said.
The auction house says the gem is made of the same diamond that forms the basis of the Australian flag.